(1) Regulation 95
does not take effect until the end of the 5‑year and 6‑month
transitional period.
(2) Regulation 97
does not apply to a strata management contract entered into before the end of
the 5‑year and 6‑month transitional period, if the contract
provides for the matters required under subregulation (3).
(3) For the purposes
of section 145(1)(k), a strata management contract entered into before
the end of the 5‑year and 6‑month transitional period that does
not comply with regulation 97 must —
(a)
indicate that the strata manager is required by law to ensure that, by the end
of the 5‑year and 6‑month transitional period, each person who is
a principal of the business of the strata manager, or a designated person in
relation to the strata manager who has a key role in performing scheme
functions, holds the prescribed educational qualifications; and
(b)
indicate whether or not, at the time of entering into the contract, each
person who is a principal of the business of the strata manager, or a
designated person in relation to the strata manager who has a key role in
performing scheme functions, holds the prescribed educational qualifications;
and
(c) if
the duration of the strata management contract extends beyond the end of the
5‑year and 6‑month transitional period, specify that —
(i)
at the end of the 5‑year and 6‑month
transitional period, the strata manager warrants that each person who is a
principal of the business of the strata manager, or a designated person in
relation to the strata manager who has a key role in performing scheme
functions, will hold the prescribed educational qualifications; and
(ii)
after the end of the 5‑year and 6‑month
transitional period and for the remainder of the strata management contract,
the strata manager must continue to ensure that each person who is a principal
of the business of the strata manager, or a designated person in relation to
the strata manager who has a key role in performing scheme functions, holds
the prescribed educational qualifications; and
(iii)
after the end of the 5‑year and 6‑month
transitional period, the strata manager must, on the written request of the
strata company, provide evidence to the strata company that each person who is
a principal of the business of the strata manager, or a designated person in
relation to the strata manager who has a key role in performing scheme
functions, holds the prescribed educational qualifications.
(4) To avoid doubt,
the strata management contract requirements imposed by regulation 97 and
this regulation extend to contracts between a strata manager and a strata
company that were entered into before commencement day, but not until the end
of the 6‑month grace period.
(5) This regulation
does not apply to a volunteer strata manager or to a volunteer agreement with
a volunteer strata manager.
Note for this regulation:
Schedule 5
clause 13(3) of the Act provides that a contract or volunteer agreement
with a strata company ceases to have effect 6 months after commencement
day unless the contract or volunteer agreement then meets the requirements set
out in section 145 (the strata management contract requirements).
[Regulation 182 amended: SL 2024/50
r. 9; SL 2024/209 r. 9.]